Philip Nothard’s Post

The Society of Motor Manufacturers and Traders (SMMT)'s October new car registration numbers have been published. Here are the headlines: - New car market falls by -6.0% in October. - Battery Electric Vehicles (BEVs) were the only powertrain to record growth, with a raft of new models driving the strongest growth this year, up 24.5% to reach a 20.7% share of the market. - UK new car buyers now have more than 125 different BEV models to choose from – an uplift of 38% over the last 10 months. - While almost 300,000 new BEVs have reached the road in 2024, this represents 18.1% of the market – an increase on 2023, but still significantly short of the 22% target. Read the SMMT’s full analysis here 👉 https://bit.ly/48AZMap

💥 51% 💥 of new retail registrations in the last 12 months were for cross-over utility vehicles, or CUVs 🚘. The Automotive Consumer Trends report for Q1 dives deep into this popular vehicle segment. Learn more about what CUVs are on the road and who is buying them - https://lnkd.in/gdkUBThG

October auto sales insights are in! SUVs and crossovers are still dominating, with electric vehicles continuing their rise. Which trends do you expect to see in 2025? Dig into Cross-Sell Interactive to see the trends in your local market! 🚘 -- https://hubs.la/Q02Ylsmn0

The 800V industry is charging ahead! ⚡️🚘 This year, we saw some incredible EV debuts, like the Li Auto Mega with a peak charging rate of 521 kW and the Zeekr 001 at an astonishing 546 kW. These releases underscore the rapid evolution in EV technology and set the stage for an exciting 2025. Two models I am particularly excited about? 😍 JLR Range Rover and BMW’s Neue Klasse X3. Both 800V, both designed to deliver impressive charging speeds and unparalleled driving range. Meanwhile, some major players like Mercedes and Ford have announced 800V platforms, but have yet to reveal their peak achievable rates. How will they navigate this high-speed race? It’ll be interesting to watch! ⚠️ But a notable gap exists: While average charging rates in Europe and the US hover around 270 kW, China continues to lead with astounding peaks in charging. With battery innovators like CATL prioritizing domestic brands, the advantage is clear. 📣 I’m curious: what’s your take? Will these regional differences shape EV adoption? Let’s discuss below! 👇 #EstablishingTheNewPossible

The market share of NEV (NEV, PHEV, and FCEV) in China continued the expansion in July. The market share of NEVs for all commercial and passenger vehicles in the first seven months of 2024 was 36.4%, with BEVs and PHEVs holding 21.9% and 14.5% market share, respectively. In July, the NEV market share for passenger vehicles reached a new high of 51.1%, which exceeded the 45% market share target in the passenger vehicle segment for 2027 set by the government early this year. 

🚗 Forecasting the Future of Australia's Car Parc: Key Trends for 2024-2030 🚗 We’re excited to share insights from the 5th Edition of the Fifth Quadrant Car Parc Forecasts. Here are three critical trends shaping the automotive landscape: 🌏 New Vehicle Efficiency Standard (2025): Expect a push towards EVs and Hybrids, though the transition may take longer as OEMs clear existing stock. 🚙 SUV Segment Challenges: Higher emissions may challenge this segment, but a shift from Large to Small SUVs will help it endure. 💲 Economic Impact: A dip in new vehicle sales is forecasted for 2025, below the 1.2 million expected in 2024. For more insights, visit our blog or get the full report using the link in the first comment below. #AutomotiveTrends #CarParc #EVs #FifthQuadrant Brad Ripps

It's also time for the Society of Motor Manufacturers and Traders (SMMT) new vehicle registration figures and news for BEVs is perhaps ever so slightly more positive than last month In absolute terms, we continue to see the YoY growth with a healthy 10.7% growth on April 2023 putting us 10.6% ahead of 2023 YTD so all good However, whilst the monthly growth was noticeably above the overall market growth for the first time in a long time, the actual YTD % of the market is still stuck around 15-16% which is a long way from where it needs to be from a ZEV mandate perspective (22%) Trying to look at this positively, the main reason why the BEV % has plateaued over the last couple of years (despite the actual numbers of registrations consistently growing) is that the overall market has been steadily recovering back to pre-covid levels which is around 2M registrations If the market growth outpaces the BEV growth each month then clearly it's going to get stuck, however, there is a point at which the market hits it's natural level and stops growing, maybe this month is the first sign of that happening? If the market then remains static (in terms of YoY growth) but BEVs continue to grow then their % of the market will improve? I remain forever optimistic! #ev #evs #electriccars #electricvehicles Volkswagen Financial Services (UK)Volkswagen Financial Services | Fleet

🚗 New figures out today from the Society of Motor Manufacturers and Traders (SMMT) have revealed new car registrations in August. ⚡ Sales of new pure-electric cars, or BEVs, accounted for an impressive 22.6% of all new car sales last month, with over 19,000 sold across the UK. 🔌 BEVs came in second place once again - behind only new petrol cars, sales of which saw a year-on-year drop of just over 10%. See more statistics here 👉 tinyurl.com/yc3cfp5w #NewCar #Statistics #NewCarSales #EV #SMMT #August #EVs #August2024 #NewCarRegistrations #BEV #ElectricCars #BEVs #CarSales #PureElectric Tim O'Neill Jade Edwards Steve Fletcher

I have shared previously about the fast growth of EV market in China. Here is a chart which just showed how fast it happened. EV sales in China as a percentage of new car sales grew from about 2% in 2020 to 44% last month. As a reference, EV sales in the US was about 6.5% of total new vehicle sales in the United States last year. #leadership #energytransition #ev #China

I've hit a significant milestone today, celebrating 30 years in the Auto Industry! 🎉 Over these three decades, I've witnessed the dynamic shifts within the market. From the rise and fall of conversion vans, small cars, and muscle cars to the current battle between gas guzzlers and eco-friendly units, the industry has truly evolved. One of the common questions I receive is about the transition of OEMs from sedans to SUVs and CUVs. The latest US market trend speaks volumes: while the sub-compact SUV/ CUV segment continues to soar, the sedan market is on a decline. This trend is a clear indicator of where the industry is headed., even with the rise of the EV Markets, most of those now are going SUV/CUV vs Sedan. I do love my current Fusion Energi (Sedan), but my next vehicle will probably be some type of SUV/CUV. #AutoIndustry #MarketTrends #EVMarket #SUV #CUV #AutomotiveEvolution 🚗🔌